Major US equity indices closed mostly into negative territory yesterday and the Asian counterparts followed suit this morning with all major indices heading south.
On the currency markets the USD declined from the highs of 92.83 seen Wednesday, which highs were the highest for the week and also for the last 3 months. These levels refer to the US dollar currency index (DXY) that measures the strength of the USD against a basket of other currencies.
We see declines following thorugh also this morning with USD looking weak, or rather hesitant ahead of this afternoon’s Nonfarm payrolls figure and unemployment rate for April. The US economy is expected to have created 193k jobs throughout the mentioned month and Unemployment rate is expected to have ticked lower to 4%.
The Fed left policy rates unchanged last Wednesday, and suggested that inflation was on track approaching target.
The USDJPY slipped lower to 109.05, and the EURUSD higher to 1.1992, with both the Euro and the JPY taking the lead on the softer USD.
